I have an outstanding debt (1000.00 but is now 3000.00 because of the 19% finance charge that has accumulated) from 1997 from a Credit Card company. I was contacted by a collection ageny by mail approximately 3 months after purchasing my home. I understand under the statute of limitations for Massachusetts that the time to collect this debt has expired (6 years in Ma). Collections told me that Capitol One credit card Co sold it to them just a couple months ago and are trying to collect the money. By law, is there anyway they can put this back on my report after this length of time? I spoke to the collection company last night, and yes, all the info was mine but I told them that I didn't think this was my debt and DID NOT make payment arrangement but instead told them that I was going to dispute. Anyway, I pulled my credit report this morning and the collection agency was on my credit report as in inquiry. I just want to be sure they can't put this on my credit report as an unpaid debt because of the length of time. I have built my credit up and I would hate to see this ruin my credit.

I think it can stay on your credit report for a very long time, you said you owed it, then later said you advised the collection agency you did not think it was your debt. Am confused, is it yours or not or are you just not sure ? I would be willing to bet that the collection agency bought the debt for 5 cents on the dollar, that would be about $150.00 they paid for your account and I bet they would be willing to settle the debt for half of the $3,000. If it's your debt, why not try to settle and put it to bed? It can destroy your credit but if you do settle have them place the settlement offer in writing and don't pay a dime until its in writing "settlement in full".

If you owe the debt and didn't pay it, I'm guessing it will end up on your credit report. That's sort of how that stuff works.

This original debt was on my credit report for 7 years and has been off it for 3. Can the collection agency put it back on the report if not paid? Ive been told from a financial advisor they can not if I don't make new payments. If I do make a payment it would go back on a as a new debt. I meant to say that they have all my correct information but I do not recall having this card back then... so I was confused as to this debt and wasn't sure.